Amazon will generate USD 502.2 million in Mexico sales in 2017 compared with USD 243.9 million in 2016.
Online sales still account for slightly over 3% of all retail sales in Mexico, where shoppers fear credit card fraud and are often paid in cash. Internet shopping represents nearly 12% of all retail sales in the US.
Argentina’s MercadoLibre registered an increase of nearly 90% from 2016, but was still seen slipping to second place with some USD 489.2 million in sales. MercadoLibre said its Mexican sales rose 82% in the Q3 of 2016.
In third place was Walmart de Mexico with USD 258.9 million in projected online sales, or growth of about a third.
Amazon, formally launched in Mexico two years ago, introduced in October a cash payments system. Euromonitor excluded consumer-to-consumer sales sites, such as eBay, in its analysis.
Euromonitor forecasts the Mexican online market would be worth USD 7.1 billion in 2018, rising to USD 14 billion by 2022.
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